Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
It's nice to have an active board, with differing views about the best way forward.
We all want what is best for MATD, but there are divergent views of how to achieve it. My thoughts of securing the financing before License is granted are -
1) would show we have money in the bank, (to get drilling planned, etc.)
as currently reduced salaries for directors and staff, so it would be great for all to be on full salary (shows company is committed to an active workforce with everybody on board.
2) money for 2021 drilling has yet to be found, which is not the greatest situation.
3) partnerships yet to be announced (or found)
4) details of arrangements with Petro China yet to be announced, or still to be determined.
5) Unknown how much more information Government will need to decide (or make) the decision on License.
6) How much longer will this drag on - unknown
7) I have previously suggested August/September, but it could take longer.
The Government will want to see that Petro Matad is a viable company with funds sufficient to do drilling in 2021 and beyond, before granting the License.
It may well be a condition for securing the License.
Just makes good sense for Mongolia to see that continuity has been assured, by having the funds in place, before granting the License.
Time (not too much) will tell if my thinking is valid (or totally off-base)
I did not always think this way, but now I do (by having my finger on the current pulse of the market)
comments are obviously welcome (and appreciated - as a long-term holder here)
Dec Clever had a placing @ 1p in August 2019.
Today the share price just topped 10p. (see DEV)
A similar prospect could well be the case for Petro Matad.
We have the oil in Heron-1 (several million barrels of the stuff)
but we need -
A) money to get it out
B) Exploitation License for continuity
could well be a factor in the Government's consideration of the Exploitation License, and having $15 million in the bank by way of a Placing @ 2p approximately, could show intent to drill 4+ wells in 2021, as well as extracting the crude from Heron-1 (just sitting there for the taking)
Appearance is everything.
imho dyor
Given that we will need cash to extract crude from Heron-1
and for the 2021 drilling program, which will include Heron-2 and 3 and 4
- is it possible a placing @ 2p approximately, is being currently contemplated?
Of course having the Exploitation License done and dusted first would be
preferable, but timing is everything. Must not leave it too late.
imho - dyor
Developed by Petards, the eyeCraft360 is the world's first military grade 360 spherical view camera system. It dramatically improves local situational awareness for armoured vehicles and provides a welcome boost to crew safety by reducing blind spot distances.
Serving soldiers in heavy armour, light armour and mounted infantry roles put the eyeCraft360 through its paces across a wide range of challenging terrains, light conditions and tactical exercises.
The eyeCraft 360 was developed as a simple to install, rapid and cost effective capability boost for all in-service armoured vehicles in response to the growing need for improved close-range awareness.
Petards Group PLC - surveillance systems developer - Completed successful trials of "eyeCraft 360" spherical video system in partnerships with the British Army's Armoured Trials and Development Unit at Bovington.
Current stock price: 9.05 pence
Year-to-date change: down 38%
By Dayo Laniyan; dayolaniyan@alliancenews.com
World's first military 360 degree spherical camera technology successfully trialled by the British Army
Petards, the AIM quoted developer of advanced security and surveillance systems announces today that, further to the Final Results announcement on 18 June 2020, in partnership with the British Army's Armoured Trials and Development Unit at Bovington, its 'eyeCraft 360' spherical video system has completed successful trials.
Developed by Petards, the eyeCraft360 is the world's first military grade 360 spherical view camera system. It dramatically improves local situational awareness for armoured vehicles and provides a welcome boost to crew safety by reducing blind spot distances.
Serving soldiers in heavy armour, light armour and mounted infantry roles put the eyeCraft360 through its paces across a wide range of challenging terrains, light conditions and tactical exercises.
The eyeCraft 360 was developed as a simple to install, rapid and cost effective capability boost for all in-service armoured vehicles in response to the growing need for improved close-range awareness.
Raschid Abdullah, Chairman of Petards Group plc said; "We were delighted by the enthusiastic response the trials team gave to the system and look forward to it becoming an essential component in pursuit of the best available protection for the UK's military personnel and for other approved markets"
Yes - the wheels of the Mongolian Government seem to run @ a snails-pace. Huge amounts of patience are still needed, but the rewards down the road are there in the ground below Heron-1 to be revealed - by millions of barrels of crude oil (so it seems) - and lots more in wells MATD will drill in 2021 and beyond - let us not forgot - so hang in there. I suggested August-September will yield results - and so I do believe
2.525 - 2.62p currently
willibobs - enjoying your contributions to this terribly-dull board - enormously
Just maybe an RNS on Monday - though don't hold your breath
Should close blue today - lots taking advantage of cheap SP